Iridium Communications Inc (NASDAQ:IRDM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Iridium Communications Inc (NASDAQ:IRDM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $34.25.

IRDM has been the subject of several recent analyst reports. Oppenheimer initiated coverage on Iridium Communications in a report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price target for the company. William Blair raised Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, BWS Financial cut their price target on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd.

Institutional Trading of Iridium Communications

Institutional investors have recently bought and sold shares of the business. Carolina Wealth Advisors LLC acquired a new stake in Iridium Communications in the second quarter worth $76,000. Synergy Asset Management LLC acquired a new stake in Iridium Communications in the second quarter worth $19,978,000. LBP AM SA grew its holdings in Iridium Communications by 22.0% in the second quarter. LBP AM SA now owns 182,071 shares of the technology company's stock worth $5,493,000 after purchasing an additional 32,777 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Iridium Communications by 9.1% in the second quarter. Janney Montgomery Scott LLC now owns 29,041 shares of the technology company's stock valued at $876,000 after buying an additional 2,414 shares in the last quarter. Finally, Wealth Effects LLC lifted its stake in shares of Iridium Communications by 52.4% in the second quarter. Wealth Effects LLC now owns 22,107 shares of the technology company's stock valued at $667,000 after buying an additional 7,602 shares in the last quarter. Institutional investors own 84.36% of the company's stock.

Iridium Communications Trading Down 0.6%

Shares of Iridium Communications stock traded down $0.19 on Friday, hitting $31.88. The stock had a trading volume of 1,336,891 shares, compared to its average volume of 1,191,409. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 3.43. Iridium Communications has a one year low of $19.91 and a one year high of $35.85. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 1.08 and a beta of 0.79. The stock's 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $27.96.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. Iridium Communications had a return on equity of 19.41% and a net margin of 14.68%. The company had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. During the same period in the previous year, the company posted $0.17 EPS. As a group, sell-side analysts predict that Iridium Communications will post 0.89 EPS for the current year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.56 annualized dividend and a yield of 1.76%. Iridium Communications's dividend payout ratio is currently 52.83%.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.